The World Bank Group logo is seen on the building of the Washington-based global development lender in Washington on January 17, 2019. (FILE photo by Eric BARADAT / Agence France-Presse)
MANILA, Philippines – The World Bank (WB) approved this week a $1.02-billion financing for the Philippines to expand access to affordable, reliable electricity and strengthen water security for millions of Filipinos.
The financing consists of a $1-billion loan from the International Bank for Reconstruction and Development (IBRD) and a $20-million performance-based grant from the Livable Planet Fund.
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